Valuation
72
NB · Nigerian Breweries Plc
Accumulate Neutral Quality 4/5Distress proxy: 40.29 (Safe)
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Composite score
60.9
Tier: Accumulate
Last close
₦72
As of latest snapshot
30-day ADV
₦1.51B
Liquidity signal
Market cap
₦2.22T
Consumer Goods
Financials
58
Technical
48
AI bottom line
NB trades at a modest 20.2x P/E with a strong 11.5% FCF yield and fortress balance sheet (0.09x D/E), signaling attractive valuation despite a neutral technical setup. Monitor margin sustainability and whether the 7.4% net margin can expand, as ROE of 17.9% significantly lags the 38.9% sector median, indicating room for operational leverage.
Stock Snowflake 5-axis radar
Blue = NB. Gold dash = Consumer Goods median. Bigger area = better across the five research dimensions.
What the model is seeing
- Trades at P/E 20.2x — in line with Consumer Goods median of 19.9x.
- Free cash flow yield of 11.5% — strong cash generation relative to market cap.
- ROE of 17.9% — well below sector median of 38.9%. Capital is underperforming.
- Below both 50-day (-9.5%) and 200-day (-4.9%) moving averages — sustained downtrend.
Risk flags
No major risk flags
Price & trend
Close price with 50-day and 200-day moving averages, last 12 months.
Composite score history
How the model has rated this stock over the available history. Tier changes happen at 75 / 60 / 40.
Key metrics
Valuation
P/E ratio20.2x
P/B ratio3.6x
P/S ratio1.5x
EV/EBITDA7.6x
FCF yield11.5%
Financials
ROE17.9%
ROA9.7%
Net margin7.4%
FCF margin17.3%
Debt / Equity0.1x
Technical
Last close₦72
Above 50d MA-9.5%
Above 200d MA-4.9%
ADX (trend)51.7
RSI25.7
Dividend history 10 fiscal years shown
All amounts are gross of Nigeria's 10% withholding tax on dividends. Bonus ratios are 'new shares for shares held'.
Current yield: 2.01% 👑 Aristocrat · 14 consecutive years 5y DPS CAGR: -17.4% ↓ 10y CAGR: -7.1%
| FY | Interim DPS | Final DPS | Total cash | Bonus | Qualification | Payment |
|---|---|---|---|---|---|---|
| 2022 | ₦0.4 | ₦1.03 | ₦1.43 | — | — | 26 Apr 2023 |
| 2021 | — | ₦1.20 | ₦1.20 | — | — | 22 Apr 2022 |
| 2020 | — | ₦0.69 | ₦0.69 | — | — | 23 Apr 2021 |
| 2019 | — | ₦1.51 | ₦1.51 | — | — | 23 Apr 2020 |
| 2018 | ₦0.5 | ₦1.83 | ₦2.33 | — | — | — |
| 2017 | ₦0.6 | ₦3.13 | ₦3.73 | — | — | — |
| 2016 | ₦1.00 | ₦2.58 | ₦3.58 | — | — | — |
| 2015 | ₦1.00 | ₦3.60 | ₦4.60 | — | — | — |
| 2014 | ₦1.20 | ₦3.50 | ₦4.70 | — | — | — |
| 2013 | ₦1.25 | ₦4.50 | ₦5.75 | — | — | — |
Peers in Consumer Goods
Closest names by composite score within the same sector. Click a symbol to open its detail page.
| Symbol | Composite | P/E | P/B | ROE | Tier |
|---|---|---|---|---|---|
| UNIONDICON | 60.7 | 126.8x | — | — | Illiquid |
| NASCON | 61.3 | 14.9x | 7.3x | 44.2% | Accumulate |
| MCNICHOLS | 58.2 | 21.3x | 9.1x | 40.4% | Neutral |
| ENAMELWA | 57.9 | — | — | — | Illiquid |
| PZ | 57.8 | 8.8x | 17.4x | 164.7% | Neutral |
| UNILEVER | 56.5 | 19.4x | 7.0x | 29.4% | Neutral |
Recent news mentioning NB
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